Recent gyrations in the market have caused more than one investor some heartburn. Each day I hear disgruntled comments due to losses and see many people looking for an out. "The fact is people are scared and the only thing they're doing is selling," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. "Investors are cleaning out portfolios and getting rid of everything because nothing seems to be working."(a) As a dividend and value investor, these are the times we live for - value priced stocks and golden dividends.Below are four stocks that recently dipped below my target buy prices (before adding any quality premiums; yields, closing prices and, NPV MMA Diff. are as of 10/06/2008):

Fear, panic and market meltdowns are good for the long-term investor. It provides the perfect circumstances for us to purchase shares in quality companies at discounted prices - if we are willing to seize the opportunity.

As always, you should do your own research and reach your own conclusion before buying or selling any security.

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PEP and JNJ are really expensive stocks relative to what you can get out there in today's crazy markets.

All it will take for PEP to drop is an earnings report that does not chalk up to their lofty valuation at 19x earnings. These stocks are both overbought in the ongoing flight to safety that has been going on. Long term value investors should avoid expensive consumer staples in bear markets IMO.